Operations & Training Risk Management Plan
Author: Project Manager Created: Mar 1
Status: Draft / Final Updated: Mar 31
Objective
The objective of this document is to identify potential risks in the Operations and Training
Management Plans and offer a mitigation plan for potential risks.
Executive Summary
The project duration is 6 months during which a plant delivery logistics plan has to be introduced
and implemented, supply chain management software has to be installed in office Green
employee hardware and warehouse computers, and to develop and launch an employee training
program.
Potential risks involve going over budget in material costs and vendor fixed costs and falling
behind the training schedule.
RISK TYPE ONE: Going over the project budget
Scenario Risk to Mitigation Plan
project
(L/M/H)
Each delivery truck costs High Accept.
$16,000 more than initially The market price for the truck is USD 16K more
quoted than the estimated budget. This is an
unavoidable situation and it is to be accepted
as-is. Inform stakeholders and request for
Contingency Budget.
A product vendor charges a Medium Avoid. Send RFP to other vendors providing
higher rate than expected similar services and choose the one that falls in
the budget and fulfills all your requirements.
A product vendor loses a Low Control. Keep an alternate vendor identified that
product shipment can deliver the product at short notice if and
when required.
RISK TYPE TWO: Falling behind the training schedule
Scenario Risk to Mitigation Plan
project
(L/M/H)
Your Training Manager gets Low Control.
sick and misses a week of Identify another Training Manager preferably
training from the same team as the current Team
Manager who can step up in the unfortunate
event of the main Training Manager falling sick.
You cannot hire enough Medium Control. Another HR person is to be added to
employees in time to train the team to assist in employee onboarding.
them before launch
More than 50% of Medium (In my opinion, this is an absolutely hypothetical
employees quit after a situation and the chances of this happening is
difficult training process, less than 1%).
leaving the company
short-staffed Control. Simplify the training process to make
employees understand, give them time during
the training sessions to pose questions and
answer their questions appropriately, and give
short breaks between sessions to absorb the
information gatherered. Give them time to adjust
and adapt to the new process.
Appendix:
Probability chart:
Probability
Qualitative Quantitative (if measurable)
Less than <10% chance of risk
Low Very low chance of risk occurring.
occurring.
Medium Medium chance of risk occurring. 10%-49% chance of risk occurring.
High High chance of risk occurring. 50%-100% chance of risk occurring.
Impact chart:
Types of
Impact Low Medium High
Low financial impact, Medium financial impact, High financial impact,
costing the company costing the company costing the company
Financial $0-$14,000 $15,000-$29,000 $30,000 or more
Medium impact to project
Low impact to project operations, High impact to project
operations, causing with potential to delay operations,
delays of a few days to a project by a month or with potential to cause
Operational few weeks more project failure
Low impact to employee Medium impact to High impact to employee
attrition, with 5%+ of employee attrition, with attrition, with 50%+
employees quitting 25%+ of employees employees quitting
People quitting
Probability and Impact Matrix:
Inherent Risk
Impact
Low Medium High
High Medium High High
Probability Medium Low Medium High
Low Low Low Medium
